ODM 业绩公布后，GB200-300 上调

August 17, 2025 06:58 PM GMT We raise our GB200/300 racks forecast to~34k (up from ~30k racks): Post-ODM results, we adjust our assumptions and raise CY25e GB200/300 NVL72-equivalent racks by ~4k units. This revision is mainly driven by the strong guidance given by Hon Hai, where they guided for AI rack shipments to grow 300% q/q in 3Q, with further growth in 4Q. As a result, we raised our CY25 full-year rack shipment estimate for Hon Hai to 19.5k racks, implying that they would account for ~57% of the mark ...